Institutions are tokenizing hundreds of millions in capital on the Avalanche blockchain, which is turning government and TradFi integrations “into onchain reality,” according to Nansen.
Avalanche is gaining ground as a preferred blockchain for governments and institutional investors, even as its native token continues to lag far below its all-time high.
During the past quarter, Wyoming’s Stable Token Commission issued the first government-backed stablecoin, the Frontier Stable Token (FRNT), on Avalanche and six other public blockchains, signaling a growing adoption of blockchain networks by governments.
FRNT launched as a fully collateralized stablecoin backed by US dollars and short-duration US Treasury bills with a mandated 102% reserve requirement, Cointelegraph reported in August.
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